Here is why API3 token is rallying as the vast majority of cryptocurrencies fall
The API3 worth has surged by greater than 42% as the vast majority of cryptocurrencies together with Bitcoin and Ethereum nosedive. At the time of writing, the API3 token was buying and selling at $6.87.
API3 rally comes amid the bigger crypto market massacre that has seen the likes of Bitcoin, the most important cryptocurrency by market cap, drop to $35K and Ethereum, the second-largest cryptocurrency drop to $25K.
API3 is at the moment solely about $2 shy of its all-time excessive of $10.31 that it hit in April 2021. And going by the present pattern the place it has gained greater than $2 in lower than 24 hours, it might be headed for a brand new all-time excessive earlier than the present hype ends.
But why is API3 worth rally, particularly at such a time when a majority of cash are dropping? Here is a complete purpose for the value rally.
What is API3?
API3 is the native token of the API3 blockchain community.
The API3 blockchain community is devoted to permitting decentralized variations of APIs to be constructed, managed, and monetized.
The group behind the API3 undertaking believes sensible contracts can be utilized to offer “timely, reliable real-world data” as is the case with the standard APIs.
Why API3 worth is rallying
The present API3 rally is extremely attributed to the current announcement by Binance that it shall checklist it and the next itemizing on the crypto alternate earlier as we speak.
In an announcement posted on the Binance web site on January 2021 at round 9:38 AM, the crypto alternate had promised to checklist API3 token on January 22, which is as we speak.
Binance had additionally tweeted about the identical on its Twitter deal with setting the API3 group aflame.
#Binance will checklist @API3DAO #API3 https://t.co/M25whlBkNQ
— Binance (@binance) January 21, 2022
As a matter of reality, the API3 worth had began rallying on January 20, in anticipation of the itemizing and as soon as it was made public by Binance, the value shot to the moon.
Today, the value continued with the Bull Run propelled by Binance actualizing what it had introduced yesterday.
Recent #Binance itemizing: #API3@API3DAO is an information oracle that allows APIs to feed knowledge to blockchain functions instantly with out third-party middlemen.
Learn extra 👇https://t.co/0DbTVpBQYQ
— Binance (@binance) January 22, 2022
Prior to the itemizing information, API3 was in a pullback that had began in mid-November 2021, and makes an attempt to right it in December had failed.
Investors are actually anticipating API3 to proceed with the rally to above $10, particularly because it has proven resilience by surging up at a time when the overall market is down.
